What: In spite of increasing revenue, losses widen at Aditya Birla.

Why it is important: Aditya Birla is Galeries Lafayette’s partner in India, set to open their first store in 2025.

The Indian conglomerate Aditya Birla Fashion and Retail reported a full-year net loss of 7.36 billion rupees (approximately US$88.3 million), despite a 12.7% increase in revenue to 139.96 billion rupees. The company experienced growth across its primary segments: Madura Fashion and Lifestyle, Pantaloons, and Ethnic and Other.

Throughout the fiscal year, the company expanded its market presence by acquiring a 51% stake in Styleverse Lifestyle and increasing its stake in Indivinity Clothing Retail to 85.54%. Additionally, the board approved the demerger of its Madura Fashion and Lifestyle unit.

In the fourth quarter specifically, Aditya Birla Fashion and Retail saw its net loss widen to 2.66 billion rupees, even as quarterly revenue surged by 18.3% to 34.07 billion rupees, indicating significant revenue growth amidst financial challenges.

Aditya Birla retail losses increase